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Dec 27, 2012
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the senate trickles back into washington for a last attempt at the fiscal cliff compromise. shibani: team coverage, peter barnes standing by at reagan national airport where lawmakers are revising falling snow delays and we start with rich edson on capitol hill where the senate is finally in session but are going to get any work done? >> we will get work done but on a few unrelated issues, nothing to do with the fiscal cliff, they're talking about a couple other bills. president obama back in washington d.c. spoke to all the congressional leaders, top democrats and republicans in the house and senate, no update, or signs of real progress, senior administration official says this one is up to congress to figure out. house republicans say we need the senate to act, senators say we need republicans to act. terry reed hit the floor a short while ago and said it looks like we are headed over the fiscal plan and called on the house to set -- pass the senate plan. >> i see the speaker painting the escape hatch, put the economic base in your own state as speaker of the house. millio
the senate trickles back into washington for a last attempt at the fiscal cliff compromise. shibani: team coverage, peter barnes standing by at reagan national airport where lawmakers are revising falling snow delays and we start with rich edson on capitol hill where the senate is finally in session but are going to get any work done? >> we will get work done but on a few unrelated issues, nothing to do with the fiscal cliff, they're talking about a couple other bills. president obama...
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Dec 29, 2012
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cliff. but there are some signs of compromise this morning. cbs reporter danielle nottingham on what both sides are now saying about that looming deadline. >>reporter: top congressional leaders met with president obama at the white house, trying to avoid the automatic tax hikes and spending cuts set to kick in january 1st. the president called the meeting constructive, but reminded lawmakers there's not much time left. >> we're now at the point where in just four days every americans' tax rates are scheduled to go up by law. >>reporter: senators harry reid and mitch mcconnell returned to the senate floor, pledging to work through the weekend. >> we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation. >> we're going to do the best we can for the congresses we have and for the country that's waiting for us to make a decision. >>reporter: democratic and republican leaders have agreed t
cliff. but there are some signs of compromise this morning. cbs reporter danielle nottingham on what both sides are now saying about that looming deadline. >>reporter: top congressional leaders met with president obama at the white house, trying to avoid the automatic tax hikes and spending cuts set to kick in january 1st. the president called the meeting constructive, but reminded lawmakers there's not much time left. >> we're now at the point where in just four days every...
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Dec 27, 2012
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. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are taking a live look outsid
. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we...
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Dec 28, 2012
12/12
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the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. the house will be in session on sunday. harris? >> molly henneberg with the latest outside the white house. thank you, molly. >> for now, rebuilding after disaster. >> when a tornado took out their church members of this community went to work and found inspiration in the wreckage. >> in the midst of the worse there is good things to come out. >> fixing a building while feeding the soul. that is coming up. >> harris: 200 tornadoes tore through the southern united states in a single day last year, killing more than 300 people. one of those twisters chewed up the town of tuscaloosa, alabama. 65 people died that day. it was among the deadliest single tornado outbreaks in u.s. history and turned much of that area including a church there to rubble. now, more than a year later that community is just starting to rebuild. elizabeth prann is live for us. what do the church members have to do to go through the process? >> had to get reimbursements from fema and from the insurance companies but
the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. the house will be in session on sunday. harris? >> molly henneberg with the latest outside the white house. thank you, molly. >> for now, rebuilding after disaster. >> when a tornado took out their church members of this community went to work and found inspiration in the wreckage. >> in the midst of the worse there is good things to come out. >> fixing a building...
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putting more pressure on house republicans to either pass the senate compromise on the fiscal cliff or kick the effort down the road to next congress. >>> it is a day of mourning in the ivory coast. and new year's celebration turned tragic early this morning when thousands tried to leave a fireworks show. more than 60 people were killed in the stampede. hundreds of others were injured. police say that most of the victims were children. a witness told reporters security forces showed up and tlig triggered panic. fireworks show was supposed to celebrate peace in the nation. >>> all flights in and out of syria's largest city are canceled tonight after clashes between the military and rebel forces. rebel leaders threatened to target all aircraft. they believed the syrian government is using commercial craft to bring in weapons. fighting intensified today in damascus suburb. syrian military claims to have killed rebels during an air attack there. today the president of the syrian council called on other countries to help in the rebel cause. >> i hope that the community -- exactly what has b
putting more pressure on house republicans to either pass the senate compromise on the fiscal cliff or kick the effort down the road to next congress. >>> it is a day of mourning in the ivory coast. and new year's celebration turned tragic early this morning when thousands tried to leave a fireworks show. more than 60 people were killed in the stampede. hundreds of others were injured. police say that most of the victims were children. a witness told reporters security forces showed up...
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Dec 30, 2012
12/12
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what lawmakers in washington are doing to try to avoid the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate minority leader mitch mcconnell were in the capital building today hoping to beat the deadline to the luge "fiscal cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay more. >> the president's tax hike w
what lawmakers in washington are doing to try to avoid the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate...
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Jan 1, 2013
01/13
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fiscal cliff bill, send it back to the senate for more action. that could be the kiss of death during this current session. many lawmakers on both sides of the aisle have grave concerns about this measure, the drama surrounding it, and their criticism is blunt. >> i wish i could say that this was a proud moment. a moment in which we started the year off right, in which the first of january was the first of a great many good things. it isn't. we're kicking the can down the road. >> we're about to have a hold your nose vote here in the house of representatives. and many of us are going to wrestle with the problem of making perfect be the enemy of the good. >> senator mitch mcconnell observed, quote, this shouldn't be the model for how we do things around here, end quote, and then the senate proceeded like a bull in a china closet anyway. the senate boasts, it is america's deliberative body. today, that claim rings hollow. >> this agreement represents absolutely the least we could have done under these circumstances and tragically, institutionalizes
fiscal cliff bill, send it back to the senate for more action. that could be the kiss of death during this current session. many lawmakers on both sides of the aisle have grave concerns about this measure, the drama surrounding it, and their criticism is blunt. >> i wish i could say that this was a proud moment. a moment in which we started the year off right, in which the first of january was the first of a great many good things. it isn't. we're kicking the can down the road. >>...
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after working behind closed doors to avoid the so- called fiscal cliff. he and majority leader harry reid are working on a scaled- down agreement that focuses on avoiding a middle class tax hike. the plan is to prevent it to the full senate for a vote on sunday, then send it over to the house. house speaker john boehner was also at the capitol but left with no comment. both sides remain at odds over the democrats' insistence that the wealthy pay more in taxes. >> the president's tax hike would only fund the government for eight days. americans deserve to know, what does the president propose we do for the other 357 days of the year? >> reporter: president obama insists his plan on the table is fair. and it includes plenty of cuts to government spending. >> we just can't afford a politically self-inflicted wound to our economy. >> reporter: if sunday's negotiations don't pan out, the president says he's ready to propose his own scaled-back tax bill that would block tax increases for all but the wealthy and preserve expiring unemployment benefits. >> for th
after working behind closed doors to avoid the so- called fiscal cliff. he and majority leader harry reid are working on a scaled- down agreement that focuses on avoiding a middle class tax hike. the plan is to prevent it to the full senate for a vote on sunday, then send it over to the house. house speaker john boehner was also at the capitol but left with no comment. both sides remain at odds over the democrats' insistence that the wealthy pay more in taxes. >> the president's tax hike...
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Jan 1, 2013
01/13
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. >> it was a rare bipartisan senate vote, 89-8. america went off the fiscal cliff. vice-president biden came to the capital. mitch mcconnell spoke for senate republicans. >> we do not think taxes should be going up on anyone. >> the senate voted to reverse today's tax hikes on 90% of americans. but to keep the higher rates for families making more than $400,000 a year. president obama took credit. >> republicans said they would never agree to raise tax rates on the wealthiest americans. >> middle class families will wake up to the assurance that their taxes will not go up $2,200 each. >> not so fast. john boehner send house members home to celebrate the new year without a vote. >> this is disgusting. everybody involved should be embarrassed. >> the economy could still take a hit. ndelsman, nbc news. >> marylanders voted to approve same-sex marriage. kim dacey is live with the details. >> it was a historic night at city hall as the first same-sex couples did get married in special ceremony this morning. seven couples took their vows. the mayor performed first ceremon
. >> it was a rare bipartisan senate vote, 89-8. america went off the fiscal cliff. vice-president biden came to the capital. mitch mcconnell spoke for senate republicans. >> we do not think taxes should be going up on anyone. >> the senate voted to reverse today's tax hikes on 90% of americans. but to keep the higher rates for families making more than $400,000 a year. president obama took credit. >> republicans said they would never agree to raise tax rates on the...
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although the senate's solution for the fiscal cliff passed by an overwhelming majority, the process has come to a screeching halt today on the house side. as jennifer johnson reports, the entire country is waiting to see what the house will do. a tense new year for house speaker john boehner, as he meets with fellow republicans, over whether to okay the fiscal cliff bill passed overwhelmingly by the senate. but gop lead verse not agreed to let the house vote or amend the bill. >> i think more members want this to pass than are willing to vote for it. you also have to be practical about what's the best deal you can get under the circumstances. >> reporter: vice president joe biden was back on the hill after helping to broker the senate deal. it spared the middle class a tax hike but raised taxes on those making over $400,000 a year. jobless benefits from extended for millions of unemployed but massive cuts to the military and other federal agencies were delayed for two months. democrats now the chance to vote on the bill as they say boehner promise. >> until now our speaker has head when
although the senate's solution for the fiscal cliff passed by an overwhelming majority, the process has come to a screeching halt today on the house side. as jennifer johnson reports, the entire country is waiting to see what the house will do. a tense new year for house speaker john boehner, as he meets with fellow republicans, over whether to okay the fiscal cliff bill passed overwhelmingly by the senate. but gop lead verse not agreed to let the house vote or amend the bill. >> i think...
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Dec 31, 2012
12/12
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on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all want to use this technical level, but it would really affect social security recipients in the sequester.
on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a...
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Dec 30, 2012
12/12
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senate leaders try to craft a compromise to avoid the fiscal cliff. wyatt andrews is on capitol hill. what happens if there's no deal? john bentley has the fallout at the airport. >> they're putting a bunch of huge and ugly potholes on a road that was supposedly going to get us to economic recovery. >> the northeast gets walloped by another winter storm. and in the west, wet weather rewrites the forecast in california. and meet the burrito boys, ben tracey introduces us to 17 -- seven teams who embody the spirit of the zone. >> they have nothing and we ask for so much, and they ask for so little.
senate leaders try to craft a compromise to avoid the fiscal cliff. wyatt andrews is on capitol hill. what happens if there's no deal? john bentley has the fallout at the airport. >> they're putting a bunch of huge and ugly potholes on a road that was supposedly going to get us to economic recovery. >> the northeast gets walloped by another winter storm. and in the west, wet weather rewrites the forecast in california. and meet the burrito boys, ben tracey introduces us to 17 --...
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Dec 29, 2012
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. >> katie: next the fiscal cliff-hanger, senators could vote on plan to save the country from the fiscal cliff on sunday but so far hopes have lawmakers striking deal haven't been met. and local high school band making history in the tournament of roses parade. >>> developing news out 6 moscow where a jetliner caught fire killing two people on board. twin engine jet went off the runway and broke apart and caught fire. news reports say about a dozen people were on board and several of them were seriously injured. it was a ministry spokesman that confirmed two people died. >>> in washington, senate a lot leaders are hoping to come up with a compromise they can send to the house tomorrow to avoid the fiscal cliff. lisa stark has the latest. >> there is nothing like a deadline to force action. the president met with congressional leaders for the first time in six weeks and then proclaimed himself modestly optimistic. >> they are watching what we are doing here. their patience is always thin. >> with the clock running out. democratic and republican leaders in the senate will spend today tryin
. >> katie: next the fiscal cliff-hanger, senators could vote on plan to save the country from the fiscal cliff on sunday but so far hopes have lawmakers striking deal haven't been met. and local high school band making history in the tournament of roses parade. >>> developing news out 6 moscow where a jetliner caught fire killing two people on board. twin engine jet went off the runway and broke apart and caught fire. news reports say about a dozen people were on board and...
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two hours after america went off the fiscal cliff. >> happy new year. >> reporter: vice president biden came to the capitol to sell the fix. he worked out with gop leader mitch mcconnell who spoke for senate republicans. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing they would be going up on everyone. >> reporter: the senate voted to reverse are today's tax hikes on 98% of americans. but to keep the higher rate, on families making over $450,000. president obama took credit for breaking 20 years of gop opposition to tax hikes. >> keep in mind, just last month, republicans in congress said they would never agree to raise tax rates on wealthiest republicans. >> reporter: only 5% said no. >> americans will wake up today to be sure that their taxes won't go up $2,200 each. >> reporter: not so fast. house speaker john boehner and his might not go along. boehner sent republicans home to celebrate the new year without the fiscal cliff. >> everybody involved should be embarrassed. >> reporter: the economy could still take a hit. while the house take
two hours after america went off the fiscal cliff. >> happy new year. >> reporter: vice president biden came to the capitol to sell the fix. he worked out with gop leader mitch mcconnell who spoke for senate republicans. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing they would be going up on everyone. >> reporter: the senate voted to reverse are today's tax hikes on 98% of americans. but to keep the higher rate, on families...
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. >> washington lawmakers are running out of time to reach a deal on the fiscal cliff. senate leaders are working on a last ditch agreement. they hope to vote as soon as tomorrow. both houses will reconvene tomorrow. some republicans suggest racing taxes for those earning at least a million, the president and democrats want increases on making more than $250,000 a year. >> we can't afford a politiclyself inflicted wound to the economy. the economy is growing but keeping that way means the folks you sent to washington have to do their jobs. >> the president said congress must meet the new year's deadline and pass a balanced plan. >> the president's proposal to raise taxes on the top 2% won't even pay one third of the interest that's owed on this 16 trillon dollar debt. >> ouri senator gave the gop address saying the president's tax hike would only fund the government for eight days. >> here is what could happen if no deal is reached. out of work americans will loose their extended benefits, california would be hit the hardest, 400,000 will loose benefits and the bay area
. >> washington lawmakers are running out of time to reach a deal on the fiscal cliff. senate leaders are working on a last ditch agreement. they hope to vote as soon as tomorrow. both houses will reconvene tomorrow. some republicans suggest racing taxes for those earning at least a million, the president and democrats want increases on making more than $250,000 a year. >> we can't afford a politiclyself inflicted wound to the economy. the economy is growing but keeping that way...
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house speaker john boehner says the onus to avoid the fiscal cliff is now on the senate. this is a new poll shows the american people are quickly losing faith that a deal will get struck. imagine that. there is some good economic news in the forecast for 2013, we'll have that for you, and some more good news, a silver lining in a battle against childhood obesity. that report ahead as well when harris faulkner and i see you at the top of the hour. "happening now." gregg: you're full of good news. jon: trying to be, you know. gregg: one good news story after another, jon scott. jon: you got people digging out of a blizzard today, you've got a fiscal cliff coming. we've got to have good news somewhere, gregg. gregg: we'll tune in for your good news. jon scott thank you very much. patti ann: back to the bad news a fierce winter storm leaving travelers stranded and causing a lot of trouble in the northeast after hitting other parts of the country ain't is still not over. the latest on the storm's path. >> people are still driving a little too fast for the conditions. >> you co
house speaker john boehner says the onus to avoid the fiscal cliff is now on the senate. this is a new poll shows the american people are quickly losing faith that a deal will get struck. imagine that. there is some good economic news in the forecast for 2013, we'll have that for you, and some more good news, a silver lining in a battle against childhood obesity. that report ahead as well when harris faulkner and i see you at the top of the hour. "happening now." gregg: you're full of...
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the senate is back in session considering some legislation not related to the fiscal cliff today. i asked a spokesperson for senate democratic leader harry reid if all the democratic members would be here in town for a possible votes? he didn't get back to me. a spokesperson for the republican leader mitch mcconnell said however, that delays for republican senators are certainly possible. they got two of them in maine, harris. harris: right. the speaker is in ohio. so you have some pretty hard-hit areas. >> yeah. harris: what kind of advice are airport officials giving members of congress actually trying to get back to work? >> reporter: they're giving them the same advice we mere mortals get. take a listen. >> we would tell a member of congress the same thing we would tell any other traveler, check with their airline before they head to the airport to make sure their flight is on time. things in washington are in real good shape for their arrival. >> reporter: if there are any votes on the fiscal cliff later this week in the senate, the weather should be fine. that is system shou
the senate is back in session considering some legislation not related to the fiscal cliff today. i asked a spokesperson for senate democratic leader harry reid if all the democratic members would be here in town for a possible votes? he didn't get back to me. a spokesperson for the republican leader mitch mcconnell said however, that delays for republican senators are certainly possible. they got two of them in maine, harris. harris: right. the speaker is in ohio. so you have some pretty...
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the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turning around saying that's not true at all. where was the confusion? >> reporter: well, you hear the frosty statements back and forth as you just indicated there, craig. ah, the holidays in washington. a lovely time, isn't it? right now it appears clear if there's conversation going on it is not happening between the primary players but perhaps between their surrogates, senior staff and others, between those on the hill and here at the white house right now but senior white house -- senior administration official told me a short time ago that there is no proposal being sent up to the hill today. harry reid, the senate majority leader, also denied that any such thing was taking place today. both of those denials do also come against the backdrop of the fact both sides acknowledged this is not somethin
the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turning around saying that's not true at all. where was the confusion? >> reporter: well, you hear the frosty statements back and forth as you just indicated there, craig. ah, the holidays in washington. a...
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cliff. there's no sign of a deal so far. here's the latest. reporter: as senators convened in a rare sunday session, they heard this prayer from the senate chaplain. >> look with favor on our nation, and save us from self-inflicted wounds. >> the clock is ticking towards the new year's midnight hour when tax hikes and budget cuts swoop ground the fiscal cliff. the two senate leaders, harry reid and mitch mcconnell are working on a stop-gap bill. >> at some point it appears there are things that stop us from moving forward. i hope we're not there, but we're getting real close. >> i want everyone to know i'm willing to get this done but i need a dance partner. >> the legislation would prevent tax increase for roughly 98% of american workers, extend unemployment benefits set to expire for some two million people, and prevent a huge cut in payments to medicare doctors. >> we should go ahead and introduce legs that would make sure middle class taxes stay where they are and should be an up or down
cliff. there's no sign of a deal so far. here's the latest. reporter: as senators convened in a rare sunday session, they heard this prayer from the senate chaplain. >> look with favor on our nation, and save us from self-inflicted wounds. >> the clock is ticking towards the new year's midnight hour when tax hikes and budget cuts swoop ground the fiscal cliff. the two senate leaders, harry reid and mitch mcconnell are working on a stop-gap bill. >> at some point it appears...
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cliff next tuesday each side says the other is to blame. >> we can avoid the fiscal cliff if the president and the democrat-controlled senate step forward and work with republicans to solve this problem and solve it now. >> reporter: all over the country right now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill but is it going to deplete my savings. >> even if the impact isn't real, the perceived impact could cause a dropoff in sales. >> reporter: gets a deal is up to the top democrat and top republican. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. that's where we are. >> reporter: harry reid and mitch mcconnell say they are confident they can find a compromise but they have to sell it to house speaker john boehner and his fellow republicans before monday night's deadline. brian mooar, nbc washington. >> and david gregory will have an interview with president obama on "meet the press." that'
cliff next tuesday each side says the other is to blame. >> we can avoid the fiscal cliff if the president and the democrat-controlled senate step forward and work with republicans to solve this problem and solve it now. >> reporter: all over the country right now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill but is it going to deplete my savings. >> even if the impact isn't real, the perceived impact could cause a dropoff in sales....
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the good news is the senate approved a fiscal cliff deal. the bad news is your taxes are going up regardless thanks to obamacare. and if you're over one of those horrible people who make over $400,000. five new taxes under obama care will start going into effect. affecting everything from health care costs to the cost of medical devices. the congressional budget office says there is a $1 trillion tax hike over the next decade. we're going to talk to one of the guys with medical devices and how they're going to be affected later. >> overnight two people gunned down in the middle of new year's celebrations. it happened in sacramento, california. people say a fight broke out in a restaurant and it spilled out into the street. three other people were injured. police haven't said if they arrested a shooter or not. >> the daughter of a prominent new york city doctor, and he's an occupy wall street organizer, both under arrest for having explosives and a document called a terrorist encyclopedia in their upscale manhattan apartment. 27-year-old morg
the good news is the senate approved a fiscal cliff deal. the bad news is your taxes are going up regardless thanks to obamacare. and if you're over one of those horrible people who make over $400,000. five new taxes under obama care will start going into effect. affecting everything from health care costs to the cost of medical devices. the congressional budget office says there is a $1 trillion tax hike over the next decade. we're going to talk to one of the guys with medical devices and how...
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the senate passed a plan overnight limiting the damage from falling off the fiscal cliff. that vote came just two hours after the new year began. news 4's megan mcgrath is live on capitol hill this morning. good morning, megan. what can you tell us? >> well, good morning. i can tell you that these negotiations went late into the night and right around 2:00 a.m., two hours after the deadline for the fiscal cliff, the senate approved a measure that would block across the board tax increases as well as spending cuts. now, under the senate deal, there would be tax increases for individuals making $400,000 or more and for families making over $450,000. that's a higher fresh hold than the president had wanted. as for the spending cuts to defense and domestic programs, they would not happen automatically. instead, they would be delayed for two months allowing lawmakers to continue negotiating. while there is renewed optimism that the country will avoid the worst case scenario in all of this, it is not by any stretch a done deal. the house has to approve the compromise. they recon
the senate passed a plan overnight limiting the damage from falling off the fiscal cliff. that vote came just two hours after the new year began. news 4's megan mcgrath is live on capitol hill this morning. good morning, megan. what can you tell us? >> well, good morning. i can tell you that these negotiations went late into the night and right around 2:00 a.m., two hours after the deadline for the fiscal cliff, the senate approved a measure that would block across the board tax increases...
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raise the debt ceiling . >> the fiscal cliff was born in 2011. >> he didn't like it then but he wants today. he wants carte blanche today. >> let him answer, rick. >> i listened to you. please listen to me. i know that's not easy for you. >> okay. >> but please listen to me. >> not easy because you don't say anything consistent. >> the seeds of the fiscal cliff were planted in 2001 with the ten-year window for the bush tax cuts. secondly, look, you're not going to like this, rick, but the fact is the president has come more than halfway in terms -- he hasn't come anywhere. he's come halfway on 7%. he hasn't come halfway on the other side, the entitlement side, the reform side. we're going to a too light deal that's too small. >> a lot of people are saying he wants to go over the cliff because it gives him more leverage. >> yes. >> his treasury secretary said that. tim geithner said that on cnbc. >> right. >> well, look, i mean, first of all, i don't believe he wants to go over the cliff, but if we go over the cliff, the economic downturn only occurs as others have said in this very se
raise the debt ceiling . >> the fiscal cliff was born in 2011. >> he didn't like it then but he wants today. he wants carte blanche today. >> let him answer, rick. >> i listened to you. please listen to me. i know that's not easy for you. >> okay. >> but please listen to me. >> not easy because you don't say anything consistent. >> the seeds of the fiscal cliff were planted in 2001 with the ten-year window for the bush tax cuts. secondly, look,...
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cliff. >> brianna keilar reporting live from hawaii this morning. >>> checking our top stories before heading back to d.c. to try to head off the physical -- the fiscal cliff. you know what i'm saying. the president and first lady michelle obama visited marines and thanked them for their service. >> the greatest honor i have as president is being commander in chief and the reason it's an honor is because not only do we have the finest military in the world but we also have the finest fighting men and women in the world. >> mrs. obama and the girls won't cut short their vacation. they're staying on in hawaii. >>> former braves great andruw jones free on a bond in atlanta on a battery charge. there was a domestic dispute between he and his wife. the center fielder played with the new york yankees last year and recently signed with a team in japan. >>> the city of los angeles is holding its annual gun buyback today, several months ahead of schedule. the buyback program allows anyone to bring in
cliff. >> brianna keilar reporting live from hawaii this morning. >>> checking our top stories before heading back to d.c. to try to head off the physical -- the fiscal cliff. you know what i'm saying. the president and first lady michelle obama visited marines and thanked them for their service. >> the greatest honor i have as president is being commander in chief and the reason it's an honor is because not only do we have the finest military in the world but we also have...
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voted for the version of the fiscal cliff deal that the senate voted on last night? >> i haven't been part of those discussions. like most americans i find it very, very frustrating to watch it. it's not what we expected. i can tell you that. the spending is a problem. when i campaigned last year-and-a-half all across the state of nebraska what i heard from people was their concern about spending. that's not addressed in this bill. i thank the leader. i thank the vice president for coming together and putting forth part of the solution. in helping with tax relief for many americans. but that didn't go far enough. we have to address spending if we're really going to talk about the problem. >> woodruff: spending was a part of the discussion but the republicans were not able to agree with the spending cuts that were offered by the white house. where did everything go wrong in our opinion? >> i think you can also say the white house didn't agree with the spending cuts that were offered by the republicans. again we need to work together. we have to quit saying it's the re
voted for the version of the fiscal cliff deal that the senate voted on last night? >> i haven't been part of those discussions. like most americans i find it very, very frustrating to watch it. it's not what we expected. i can tell you that. the spending is a problem. when i campaigned last year-and-a-half all across the state of nebraska what i heard from people was their concern about spending. that's not addressed in this bill. i thank the leader. i thank the vice president for coming...
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Jan 1, 2013
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after this morning's vote on the fiscal cliff, outgoing texas senator kay bailey hutchison tweeted this at 2:43 a.m. i just cast my last vote in the u.s. senate. it has been an honor to serve in the greatest nation on theers. >>> the term fiscal cliff, i tried getting it banned, is at the top of the 38th annual list of words to be banished by lake superior state university. others on the list of unliked words? double down. plus spoiler alert. trending and guru. and a new petition has been started on the white house website calling for an end to stupid petitions. it says, white house petitions are being gamed to the point of absurdity and maybe it's time for the petition to end all petitions. meaning this one. and that's your morning dish of "scrambled politics." >>> let me get you out the door or sit on your couch to enjoy your plans for later in the day. i know last night it was freezing cold in the northern plains. painfully cold in areas like fargo, indianapolis. a lot of people probably decided to stay indoors. it's going to be that way all day. look at kansas city, denver, chicago.
after this morning's vote on the fiscal cliff, outgoing texas senator kay bailey hutchison tweeted this at 2:43 a.m. i just cast my last vote in the u.s. senate. it has been an honor to serve in the greatest nation on theers. >>> the term fiscal cliff, i tried getting it banned, is at the top of the 38th annual list of words to be banished by lake superior state university. others on the list of unliked words? double down. plus spoiler alert. trending and guru. and a new petition has...
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the fiscal cliff. over that news we sauce starts beginning to drop and the dow industrial average down seven points. we call it a fiscal cliff and it looks like we're going off the end of this cliff. most americans will not feel the effect of this but on your first paycheck you will probably get about a 4 percent cut. because the irs does not know what at the congress is doing they're not instructing employers on what to do just yet. >> we will be back in just a couple of minutes. >> calling this developing story this morning in walnut creek. a person is dead after an officer involved shooting at an apartment complex during the early morning hours in walnut creek. will tran is there live gathering information and he done this with an update on the end destination.investigation. thist east of 680 and walnut creek. we have a shot up now and let's check in with well. >> you can see police officers are still on the scene and they are allowing people leave the complex to go to work in school as they continu
the fiscal cliff. over that news we sauce starts beginning to drop and the dow industrial average down seven points. we call it a fiscal cliff and it looks like we're going off the end of this cliff. most americans will not feel the effect of this but on your first paycheck you will probably get about a 4 percent cut. because the irs does not know what at the congress is doing they're not instructing employers on what to do just yet. >> we will be back in just a couple of minutes....
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the so-called "fiscal cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers make action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm
the so-called "fiscal cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solved all of washington's revenue and...
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known all along the fiscal cliff is looming, yet the deadline spurs action. not a done deal. still a chance we head over the cliff. here is what has to happen. mitch mcconnell and harry reid have to come to agreement. by tomorrow, possibly. have something they can vote on in the senate tomorrow night or possibly even monday. send it to the house of representatives where the president says the house speaker john boehner should put it on the floor, regardless if it gets the majority of the majority. that's the traditional way of doing things. the president said if any of the process fails, any of the steps along the way we outline, a senate agreement, vote in the senate, moving to the house, if it fails, the president wants a basic bill on the floor that sets those income levels at $250,000 above, to have everyone have their taxes rice rice. a lot of ifs and but, a flurry of last-minute activity, focused on the congressional leaders in the wes wing of the white house. >> like you said it will take a badda bing, badda boom to get this done. >>> joining me now is ed o'keefe and s
known all along the fiscal cliff is looming, yet the deadline spurs action. not a done deal. still a chance we head over the cliff. here is what has to happen. mitch mcconnell and harry reid have to come to agreement. by tomorrow, possibly. have something they can vote on in the senate tomorrow night or possibly even monday. send it to the house of representatives where the president says the house speaker john boehner should put it on the floor, regardless if it gets the majority of the...
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with all the focus on the fiscal cliff. leaders from the house and senate agricultural committees agreed to a one-year extension of the expiring u.s. farm bill. so far there is no house vote scheduled. without passage of the bill milk prices could double. a gallon of milk could go up to $8 a gallon. >>> three people are recovering after a car crashed into a funeral home. police say it appears two teens were racing when they lost control and crashed their car into the building. >> literally five seconds after i had entered the side room we entered what i with thought was a side ring. >> the teens were take ton the hospital with serious injuries. a 66-year-old man who was inside the building has a broken leg. police interviewed a second driver who may have been racing with the teens but not yet made any arrests. >>> a woman accused of a fatal hit and run crash is expected to enter a plea in court today. she hit a group of people walking along a road two weeks ago. 16-year-old woman was knocked down a hillside and killed. she
with all the focus on the fiscal cliff. leaders from the house and senate agricultural committees agreed to a one-year extension of the expiring u.s. farm bill. so far there is no house vote scheduled. without passage of the bill milk prices could double. a gallon of milk could go up to $8 a gallon. >>> three people are recovering after a car crashed into a funeral home. police say it appears two teens were racing when they lost control and crashed their car into the building. >>...
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the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. there you go. the senators saying the house to act. the speaker's office saying senate has to act. there is pressure building on the president to bring both house, and senate, democratic leaders all four leaders into the white house today to bring leadership down, time is running it. let's come together. gregg: adds all new meaning to the word elementary school. ed henry, thanks very much. we're looking by the way on left-hand side of your screen live on the floor of the u.s. senate. don't you know, not much happening there. patti ann: all right. republican congressman louie gohmert is responding to those comments from senator reid that we just heard, firing back at accusations that republicans are refusing to compromise. let's listen. >> i can totally sympathize with reid's remark that he can not imagine our consciences in the house because you would have to have one to imagine ours. and he has shown repeatedly, over three years of no budget? come on. the guy has to have no conscienc
the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. there you go. the senators saying the house to act. the speaker's office saying senate has to act. there is pressure building on the president to bring both house, and senate, democratic leaders all four leaders into the white house today to bring leadership down, time is running it. let's come together. gregg: adds all new meaning to the word elementary school. ed henry, thanks very much. we're...
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speaker, if we vote on the senate fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone with my vote a process that denies the american people an opportunity to participate in their republic on issues of this magnitude. mr. speaker, i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from oregon seek recognition? without objection, the gentleman from oregon is recognized for one minute. mr. blumenauer: the agreement we are expected to vote on perhaps as early as this afternoon has many commendable and important items. unfortunately too many are short term, much is left out and most important, we are losing an opportunity for reform. we cannot continue to have by far the world's largest and most expensive military, the world's lowest taxes, the most expensive and inefficient health care system and continue to allow our country's infrastructure to fall apart all while america grows and ages. this agreement represents absolutely the least we could have done under these
speaker, if we vote on the senate fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone with my vote a process that denies the american people an opportunity to participate in their republic on issues of this magnitude. mr. speaker, i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from oregon seek recognition? without objection, the gentleman from oregon is recognized for...
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the senate has been meeting, but on matters unrelated to the fiscal cliff. the house will not meet until sunday, it looks like. there was a particularly pointed comment yesterday from senate majority leader harry reid aimed at republican house speaker john boehner. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of house of representatives to get what they want. >> here was the speaker's response to that comment. senator reid should talk less and legislate more. the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. now, this will bring us back to the price of milk. this is not technically part of the fiscal cliff, but it's because congress was not able to pass a farm bill this year. because of some strange 1949 price supports, the price of milk could skyrocket at your local grocery store. could go up a few dollars gallon if we revert back to that 1949
the senate has been meeting, but on matters unrelated to the fiscal cliff. the house will not meet until sunday, it looks like. there was a particularly pointed comment yesterday from senate majority leader harry reid aimed at republican house speaker john boehner. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of house of...
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-- off on the senate's fiscal cliff deal? rick: plus, iran kicking off the new year with a barrage of missile tests right near the most critical passageway for oil in the whole world. what's behind the rogue nation's latest saber rattling? heather: and a new year's selling brace, well, it turns into this, a tragedy, when shots ring out. what police say started all this. >> we all heard, um, two shots. >> pop, pop, pop, pop! felt like a glock. it was right there. >> right there in the corner of that bar. @ ♪ sing polly wolly doodle all the day ♪ ♪ hah @ heather: welcome back. a tragic new year's eve scene to tell you about. at least two people are now dead following a shooting at a fireworks show in sacramento, california. the shots rang out around 9 p.m., that's when a fight at a sports bar spilled out into the street leaving the crowd running for cover. >> we all heard, um, two shots. >> pop, pop, pop, pop. felt like a glock. it was right there. right there in the corner of that bar. >> right in front of us. it was, li
-- off on the senate's fiscal cliff deal? rick: plus, iran kicking off the new year with a barrage of missile tests right near the most critical passageway for oil in the whole world. what's behind the rogue nation's latest saber rattling? heather: and a new year's selling brace, well, it turns into this, a tragedy, when shots ring out. what police say started all this. >> we all heard, um, two shots. >> pop, pop, pop, pop! felt like a glock. it was right there. >> right there...
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it negates the fiscal cliff of across the board tax increases and sweeping government other agencies but many house republicans said that they were opposed to the bill because they didn't cut federal spending and they were hoping gop leaders will give the house a chance to amend the bill and send it back to the senate. democrats are saying enough is enough. >> we could allow us to go over or we can try to come together and pass something that something probably on both sides of the aisle no one agrees with 100% of. >> what we're going to do in the present plan is put nearly another trillion dollars worth of debt on the american people. time is running out to change the direction because that trillion dollars isn't just a problem for the next generation, it's a problem for corporate america, it's a problem for every american. >> the deal approved by the senate continues tax breaks for those earning less than $400,000 and for couples earning less for 450,000. it raises taxes on wealthiest americans. house republicans are supposed to meet twice today about the bill no decision expected
it negates the fiscal cliff of across the board tax increases and sweeping government other agencies but many house republicans said that they were opposed to the bill because they didn't cut federal spending and they were hoping gop leaders will give the house a chance to amend the bill and send it back to the senate. democrats are saying enough is enough. >> we could allow us to go over or we can try to come together and pass something that something probably on both sides of the aisle...
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over the fiscal cliff. the panic is just setting in. this is your world. taxpayers are starting to freak out because a half trillion dollars plus tax hit is about to kick in as a deal to avoid the fiscal cliff is no where are in sight and time is running out. we hit the streets to show people this. this graphic shows how big a tax hit you could expect depending on your income no matter where in the country you live. for folks who could soon be forced to pay higher taxes, reality setting in. >> january 1st, that's what your taxes would go up. >> wow. >> wow. >> wow is not wow. >> well, it's going to be somewhere between 8,000 to $12,000, which i don't have. so i'm not looking forward to that. >> we're living paycheck by paycheck. i have five kids and that's going to put us way down in the hole. >> i'm a single income, you've got to be kidding. >> that's a lot of money. >> we need to keep our money in our pockets to help our country first. >> that sucks. i have a lot more better things to do with that money t
over the fiscal cliff. the panic is just setting in. this is your world. taxpayers are starting to freak out because a half trillion dollars plus tax hit is about to kick in as a deal to avoid the fiscal cliff is no where are in sight and time is running out. we hit the streets to show people this. this graphic shows how big a tax hit you could expect depending on your income no matter where in the country you live. for folks who could soon be forced to pay higher taxes, reality setting in....
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next on "washington journal," we continue the conversation on the fiscal cliff followed by a
next on "washington journal," we continue the conversation on the fiscal cliff followed by a
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to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night. they would have about 24 hours to approve a deal. adding to the urgency, treasury secretary timothy geithner warned congress that the nation's debt limit will be reached by december 31st and extraordinary measures would have to be taken to avoid default on the government's loans. danielle nottingham, cbs 5, washington. >> tomorrow's meeting with the president will be the first time president obama sat down with all four leaders since november 16th. and tonight, senator mitch mcconnell said that he was interested in hearing what the president proposes, elizabeth. >> sounds like right now there's a lot of finger- pointing but not a lot of problem-solving. >> reporter: exactly. and both sides again today, house speaker john boehner, he was saying that to his house republicans on the conference call he said, look
to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night. they would have about 24 hours to approve a deal. adding to the urgency, treasury secretary timothy geithner warned congress that the nation's debt limit will be reached by december 31st and...
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some house republicans have real problems with the senate's fiscal cliff compromise. and time is running out. >> taxes willing going up on everybody in america if we don't act. >> prince william county police remembering a fallen officer after he died last night in the
some house republicans have real problems with the senate's fiscal cliff compromise. and time is running out. >> taxes willing going up on everybody in america if we don't act. >> prince william county police remembering a fallen officer after he died last night in the
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reed or democrats to talk about the fiscal cliff in about a month. they feel like they have not gone the extra pile here. >> the vice president getting a call today. what do they make of all of that? >> that could be a big deal. it shows the white house push back they are going to say look he has been pulling out all of the stops with the vice president in delaware came to the white house today working the phones we are told they had multiple conversations with senator mcconnell. a year and a half ago they talked about raising the debt ceiling it was joe biden a lot of years working with mitch mcconnell. joe biden got a nickname as the mcconnell whisperer as if he had a magic potion that is able to get through the noise. the whisperer goes back. >> any kind of whisper to get a deal. >> maybe a whisper will help bring a deal. >> i like that the flip side. >> we are only hours away from the markets opening now. what will be the final trading day of 2012. wall street is watching washington very carefully not only because of the fiscal cliff fight but be
reed or democrats to talk about the fiscal cliff in about a month. they feel like they have not gone the extra pile here. >> the vice president getting a call today. what do they make of all of that? >> that could be a big deal. it shows the white house push back they are going to say look he has been pulling out all of the stops with the vice president in delaware came to the white house today working the phones we are told they had multiple conversations with senator mcconnell. a...
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[video clip] >> they passed a fiscal cliff bill without senators to consider it. and more importantly, without giving the american people time to understand and share their insights. senator mitch mcconnell observant "this should not be the model for how we do things around here." and then they proceeded likable in a china closet anyway. they boasted they are the deliberative body. today that rings hollow. mr. speaker, the house must postpone the vote until congress and the american people have time to study and evaluate this extraordinarily complex legislation and its impact on taxes, revenue, the economy, and a myriad of other issues. it's better to get it right than to act in haste. if we vote on the fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone a process that denies the american people on opportunity to participate in their republic on issues of this magnitude. i yield back. >> to what purpose does the gentleman from morgan seek recognition. without objection, the gentleman is recogn
[video clip] >> they passed a fiscal cliff bill without senators to consider it. and more importantly, without giving the american people time to understand and share their insights. senator mitch mcconnell observant "this should not be the model for how we do things around here." and then they proceeded likable in a china closet anyway. they boasted they are the deliberative body. today that rings hollow. mr. speaker, the house must postpone the vote until congress and the...
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a bill to avoid the so-called "fiscal cliff." >> the bill as amended is passed. >> reporter: the senate voted 89-8 to avoid tax hooks for 99% -- to avoid tax hikes for 99% of all americans. >> this shouldn't be the way we do things but i think we have done some good for the country. >> reporter: if the bill becomes law, the bush-era tax cuts will be permanently extended for everyone making less than $400,000 a year. and families making less than $450,000 a year. it will also keep the alternative minimum tax for the wealthy from hitting millions of middle class families. >> middle class families will wake up today to the assurance that their taxes won't go up $2,200 each. >> reporter: the senate agreement delays a $110 billion in spending cuts that were due to kick in today for another two months. because the bill doesn't address spending, getting it passed in the house could be much tougher. >> the fact that the president won't challenge his party on spending cuts is disgusting. it's just disgusting. >> reporter: president obama wanted to dole with taxes and spending cuts at the same ti
a bill to avoid the so-called "fiscal cliff." >> the bill as amended is passed. >> reporter: the senate voted 89-8 to avoid tax hooks for 99% -- to avoid tax hikes for 99% of all americans. >> this shouldn't be the way we do things but i think we have done some good for the country. >> reporter: if the bill becomes law, the bush-era tax cuts will be permanently extended for everyone making less than $400,000 a year. and families making less than $450,000 a...
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senate has reached a deal in the fiscal cliff negotiations. cnn is reporting. >> reporter: lawmakers postautomatic spending cuts. but they did strike a deal on taxes. >> three hours before the midnight dead line senate minority leader mitch mcconnel and joe biden emerge with taxing and spending. >> this is a mini cliff, big cliff still lies in front of us. big cliff. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush era tax cuts remain in place for individuals earning as much as $400,000 a year and families $450,000 a year. far above the $250,000 on which president obama campaigned. those making more will see higher income taxes, capital gains and dividends rates. san francisco tax attorney rob wood says you will notice on the paycheck one popular tax cut will be history. >> say the average person earning $1,500 a year will
senate has reached a deal in the fiscal cliff negotiations. cnn is reporting. >> reporter: lawmakers postautomatic spending cuts. but they did strike a deal on taxes. >> three hours before the midnight dead line senate minority leader mitch mcconnel and joe biden emerge with taxing and spending. >> this is a mini cliff, big cliff still lies in front of us. big cliff. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on...
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. >>> this morning they are still trying to form a last minute compromise to avoid the fiscal cliff. >> the deal they're considering only kicks the cans down the road again. >> senate republican leader mitch mcconnel left the capitol tight lipped by smiling after working behind doors to avoid the so-called fiscal cliff. he and harry reid are working on a scale down agreement that focuses on avoiding a middle class tax hike. the plan is to present it to the senate for a vote on sunday and then send it over to the house. house speaker john boehner was at the capitol but left with no comment. the democrats insist the wealthy pay more in taxes. >> the president's tax hike would only fund the government for l days. americans deserve to know what does the president propose we do for the over 357 days of the year. sdmrsz -- >> president omaba insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just afford a wound to our economy. >> if sunday's negotiations don't pan out the president says he's red to -- he's ready to propose his own scaled back bi
. >>> this morning they are still trying to form a last minute compromise to avoid the fiscal cliff. >> the deal they're considering only kicks the cans down the road again. >> senate republican leader mitch mcconnel left the capitol tight lipped by smiling after working behind doors to avoid the so-called fiscal cliff. he and harry reid are working on a scale down agreement that focuses on avoiding a middle class tax hike. the plan is to present it to the senate for a vote...
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Dec 27, 2012
12/12
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KPIX
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senate passes a bill to avert the fiscal cliff. as the president wrapped up his vacation, federal workers trickled back into the nation's capital. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned, and, in just six days, a 2% payroll tax is set to expire, along with the bush era tax cuts, shrinking the average workers' paycheck in 2013 by about $1,500. long-term unemployment benefits for about two million jobless americans are also set to expire, and $110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid-2013. the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to
senate passes a bill to avert the fiscal cliff. as the president wrapped up his vacation, federal workers trickled back into the nation's capital. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned, and, in just six days, a 2% payroll tax is set to expire, along with the bush era tax cuts, shrinking the average workers' paycheck in 2013 by about $1,500. long-term unemployment benefits for about two million jobless americans are also set to...
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Jan 1, 2013
01/13
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FOXNEWSW
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the senate passed a bill on the fiscal cliff but does it solve the problem? if the house gives it's stamp of approval what does this peen for the economy? let's ask the policy maker lynn brooks. >> this is a stopgap measure for the tax hikes that take place today. some of it revisited in a few months. some parts would be permanent if the house passes it such as the tax rates? >> that's right. ever since 2001 when we first passed this it was temporary. that's why we are having the cuts now and having it today. it is hard to grow and invest when you don't know what the income tax rate is going to be. you don't know what the debt tax is going to be. this is one positive thing on the bill the spending side is a different story. it's a step in the right direction on tax polil but in terms of spending it gets us nowhere in the right direction. which hit our debt ceiling we will be talking this the next few months. the bill doesn't have a lot of spending cuts into it on balance it increases spending explain some of the areas where it does that. >> the big part of th
the senate passed a bill on the fiscal cliff but does it solve the problem? if the house gives it's stamp of approval what does this peen for the economy? let's ask the policy maker lynn brooks. >> this is a stopgap measure for the tax hikes that take place today. some of it revisited in a few months. some parts would be permanent if the house passes it such as the tax rates? >> that's right. ever since 2001 when we first passed this it was temporary. that's why we are having the...
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Dec 24, 2012
12/12
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WUSA
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you can get alerts sent straight to your phone about all our fiscal cliff notes by texting the cliff to 25543. >>> senator michael crapo of ied low has been arrested -- idaho has been arrested and charged with driving under the influence. he was pulled over sunday morning for running a red light in virginia. he failed a field sobriety test. the senator issued a statement saying he was deeply sorry and would deal with whatever penalty comes his way. he's due in court january 4. >>> former president george h.w. bush may not be home in time for christmas. doctors at a houston hospital say the 41st president needs to build up his energy before he can be released. the 88-year-old bush was hospitalized november 23 for a bronchitis-related cough. >>> president obama was among the more than 1,000 people attending a memorial service for the late hawaii senator daniel inouye. the army veteran and war hero died of respiratory complications last monday. hawaii's governor and military leaders also attended. inouye was 88 years old. he was the second longest serving senator in u.s. history. >>> a
you can get alerts sent straight to your phone about all our fiscal cliff notes by texting the cliff to 25543. >>> senator michael crapo of ied low has been arrested -- idaho has been arrested and charged with driving under the influence. he was pulled over sunday morning for running a red light in virginia. he failed a field sobriety test. the senator issued a statement saying he was deeply sorry and would deal with whatever penalty comes his way. he's due in court january 4....
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Jan 1, 2013
01/13
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KTVU
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senate passed a last minute deal to try to keep the country from dropping on the fiscal cliff. here is more on why all eyes are on the house. >> reporter: the senate calmed a lot of fears by passing their measure 89-88 this morning. the house of representatives still has to vote on it sometime today or tomorrow. the means this for americans, income tax rates will increase on couples making more than $450,000 a year or more and individuals bringing in more than 400,000. it blocks spending cuts for military programs and extends federal unemployment benefits for 2 million americans for one year and prevents that spike with milk prices. this all comes after 11th hour and mix mcconnel. >> this should not be the way we do things around here but i think we can say we have done some good for the country >> reporter: house speaker john boehner did not endorse the agreement but has promised a vote on it or a gop amendment right away. he will get back to it in less than four hours and will continue pawing through the more than 750 paint measure. carla campbell, ktvu channel 2 morning news
senate passed a last minute deal to try to keep the country from dropping on the fiscal cliff. here is more on why all eyes are on the house. >> reporter: the senate calmed a lot of fears by passing their measure 89-88 this morning. the house of representatives still has to vote on it sometime today or tomorrow. the means this for americans, income tax rates will increase on couples making more than $450,000 a year or more and individuals bringing in more than 400,000. it blocks spending...
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Dec 28, 2012
12/12
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CNBC
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that would imply to me that there's something in the mix on the senate side on the fiscal cliff negotiations. what that is, we'll have to find out from the president perhaps at 5:45. >> okay, we'll go back to you for that. thanks so much for keeping us updated. the question at this point is, what impact could going over the cliff have on the u.s.'s credit rating. let's bring in sean egan from egan-jones, he's on the phone tonight. if we go over the cliff, i'm assuming the credit rating agencies, other than yours, the others ones, there's a certain amount of time during which they can review the ratings and then decide. it's not an automatic thing. >> that is correct. the first step is to put it under review. then there will be an assessment of how badly we go over the cliff and also whether there will be any reform on titlements. the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i do
that would imply to me that there's something in the mix on the senate side on the fiscal cliff negotiations. what that is, we'll have to find out from the president perhaps at 5:45. >> okay, we'll go back to you for that. thanks so much for keeping us updated. the question at this point is, what impact could going over the cliff have on the u.s.'s credit rating. let's bring in sean egan from egan-jones, he's on the phone tonight. if we go over the cliff, i'm assuming the credit rating...